Standby

gold bereakout coming soon

FX:XAUUSD   Gold Spot / U.S. Dollar
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1
Hi all, the price moving nicely in the wedge and I expect a breakout today, preferably bearish!!!
-if is down than open target
-if is up than min 1278

TK

Comments

well its broken upwards... then 1278 coming soon
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I'm bearish... and getting more so... just seem to be lacking the conviction...
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false breakout above the greenline and back in again. (this price feed appears to be delayed)
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Standby jago25_98
indeed, sign for short!!! ;)
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jago25_98 Standby
"indeed, sign for short"
Why? Price has pinned both ways?
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Standby jago25_98
as you said; it was a fakeout, many ppl closed they long there and also many ppl opened short (swing trade).... as a probability I think more short then long but you never know 100%!!!
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fxtrader66 Standby
This is from FXCM, it's their Sentiment Indicator. - XAUUSD - The ratio of long to short positions in the XAUUSD stands at 1.69 as 63% of traders are long. Yesterday the ratio was 1.73; 63% of open positions were long. Long positions are 2.0% higher than yesterday and 18.6% below levels seen last week. Short positions are 4.8% higher than yesterday and 26.4% above levels seen last week. Open interest is 3.0% higher than yesterday and 7.3% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the XAUUSD may continue lower. The trading crowd has grown less net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
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short into July lows
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Standby fxtrader66
cheers elpuerto to share it, nice analysis!
+1 Reply
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